| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 78th | Good |
| Demographics | 27th | Poor |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1104 Palm Ave, National City, CA, 91950, US |
| Region / Metro | National City |
| Year of Construction | 1973 |
| Units | 52 |
| Transaction Date | 1996-07-03 |
| Transaction Price | $1,185,000 |
| Buyer | KEITH ROBERT W |
| Seller | BANKERS TRUST COMPANY OF CALIFORNIA NA |
1104 Palm Ave National City Multifamily Investment
Urban-core location with high renter concentration and dense nearby amenities supports durable leasing, according to WDSuite s CRE market data.
Located in National City s Urban Core, the property benefits from an amenity-rich corridor. Neighborhood amenity access ranks competitively among 621 San Diego Chula Vista Carlsbad neighborhoods and sits in the top quartile nationally, per WDSuite. Caf e9 and grocery density are standouts, each ranking near the very top of the metro, which supports daily convenience and helps stabilize renter demand.
The neighborhood s renter-occupied share is high (measured at the neighborhood level, not the property), indicating a deep tenant base for multifamily. Neighborhood occupancy trends are around the metro median, and average NOI per unit ranks in the top quartile nationally, suggesting solid income performance benchmarks for comparable assets, based on WDSuite s commercial real estate analysis.
Home values in the neighborhood are elevated versus many U.S. areas, which reinforces reliance on rental housing and can support pricing power and retention for well-managed assets. At the same time, rent-to-income ratios in the neighborhood trend on the lower end nationally, a constructive marker for lease stability and collections management.
Within a 3-mile radius, demographics show households have grown even as total population edged down in recent years, pointing to smaller household sizes and a shifting renter pool. Forecasts indicate further population contraction but continued household growth, which can sustain demand for smaller, efficient units and support occupancy management over the medium term.
The 1973 construction is older than the neighborhood average vintage, which raises capital planning needs but also creates value-add potential through targeted renovations and systems upgrades to compete against newer stock.
Considerations: school ratings in the neighborhood sit below national medians, and immediate park access is limited. These factors do not preclude performance but should be accounted for in positioning and amenity programming.
Safety metrics for the neighborhood (not the property) trend below both metro and national norms, placing it near the lower end among 621 San Diego Chula Vista Carlsbad neighborhoods and in low national percentiles. Recent readings also show year-over-year increases in both violent and property offenses. Investors typically plan for enhanced security measures, lighting, and proactive management to support resident satisfaction and retention.
As conditions can evolve, monitoring trend direction and engaging with local data sources remains prudent for underwriting assumptions and ongoing operations.
Nearby employers span utilities, defense, biotech, and telecommunications a diversified base that supports workforce housing demand and commute convenience for renters.
- Sempra Energy utilities (4.6 miles)
- L-3 Telemetry & RF Products defense & aerospace (10.4 miles)
- Celgene Corporation biotechnology (16.0 miles)
- Qualcomm telecommunications (16.4 miles) HQ
- Sysco food distribution (18.0 miles)
1104 Palm Ave is a 52-unit 1973 asset positioned in an amenity-dense National City location. The neighborhood s high renter concentration and strong caf e9/grocery access support a deep tenant base, while neighborhood NOI per unit ranks in the top quartile nationally. Elevated ownership costs locally reinforce rental demand, and rent-to-income levels that trend on the lower end nationally help support retention and collections, according to CRE market data from WDSuite.
Vintage creates both responsibility and upside: older systems may warrant capital reserves, but targeted unit and common-area upgrades can reposition the asset against newer competition. Demographic data aggregated within a 3-mile radius indicates households are growing even as population trends soften, a setup that can sustain demand for smaller, efficient floor plans like the property s average unit sizes.
- Amenity-rich Urban Core with top-tier caf e9 and grocery density supports daily convenience and leasing.
- High neighborhood renter-occupied share and solid neighborhood NOI benchmarks underpin demand depth.
- Elevated for-sale housing costs sustain reliance on rentals, aiding pricing power and retention.
- 1973 vintage offers value-add potential via renovations and systems modernization.
- Risks: below-median safety metrics and limited park access warrant security planning and targeted resident amenities.